- Summary:
- IAG Share Price Forecast: LON: IAG has bounce of the June lows. If it holds 153p, there is still likelihood of a 170p retest.
IAG (LON: IAG) share price has shown great strength in the past few weeks. Despite a massive pullback in FTSE 100 index, the shares of International Consolidated Airlines Group have remained somewhat resilient. The stock still seems to have more upside as its bullish market structure remains intact.
The UK shares showed a mixed sentiment at the start of this week. The benchmark FTSE 100 index rose by 24 points as most of its constituents attempted recovery. IAG shares were also up 1.53% on Monday after a pullback at the end of last week.
Retail Investors Hold 57% Of LON: IAG
As per the most recent reports, retail investors are the biggest group holding the shares of International Consolidated Airlines Group (IAG). These investors hold 57% of the company’s shares, while the private companies hold only 25% of the stock.
Further details reveal that a total of 25 different investors have a majority stake in the company with a collective ownership of 47%. These stats show that the retail holders are the biggest group affecting the company’s decisions. IAG share price is currently 7.9% down from its yearly high.
IAG Share Price Rebounds From June Lows
A look at the following LON: IAG chart reveals that the shares have rebounded from June low of 153p. As long as this level holds, my IAG share price forecast of 170p will remain valid. However, a breakdown below the 153p level will be very bearish and can cause a major reversal in stock price.
In case of a breakdown, the first target for the bulls will be the April lows of 143.55p. The recent breakdown of the FTSE 100 index below 7,300 points has opened the doors of the biggest correction in the UK stock market. IAG stock is one of the few shares which is still showing some strength.
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